Almost two years into Whitman's reign at HP, the company remains basically a PC and server company in a world that's swiftly moving toward devices and services. It lacks a presence in phones and tablets, having jettisoned its webOS system under Bradley for Microsoft ( MSFT) Windows Phone, which is still a market failure, and for Google ( GOOG) Android, where it has no differentiation. Every move Whitman makes is done with flash, a smile, and promises of momentum. In the first half of the year, investors have been buying that, knowing that -- in conventional terms -- HP is still one of the cheapest tech stocks you can buy. Follow @DanaBlankenhor This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.